Several more Einstein rings have been discovered since the first one was discovered in 1987, but no one knows exactly how many there are. In fact, they are very rare.

The European Space Agency’s (ESA) Euclid space telescope has detected an Einstein ring—a rare ring of light—around a galaxy about 590 million light-years from Earth.
An Einstein ring is what? There's a ring of light around a galaxy, cluster of galaxies or dark matter form. It is called an Einstein ring, which is an example of gravitational lensing.

What is gravitational lensing ?A massive space object like galaxy or a cluster of galaxies produces gravitational field that bends and magnifies light from the distant galaxies that lie behind it but in the same line of sight, the effect is called gravitational lensing.
The gravitational lens in the case of the new Einstein ring was NGC 6505. Light from an unnamed galaxy 4. 42 billion light-years away was distorted and magnified by the galaxy closer to us. Light travels 9. 46 trillion kilometers in a year, or a light-year.
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Einstein rings are named on great a mathematician and physicist, Albert Einstein. His general theory of relativity describes how light bends and brightens around objects in the universe. Since the discovery of the first Einstein ring in 1987, scientists have found several more. But they don’t know how many Einstein rings there are. In fact, experts estimate that less than 1 percent of galaxies have an Einstein ring, making them very rare.
Scientists utilities these rings for the purpose of study of the dark matter, where other scientists have never seen but is assumed and thought that it is upto 85 percent of the matter in the universe.
Also, Einstein rings provide scientists with details about far-away galaxies that might otherwise be invisible. NASA says because the distance between Earth and other galaxies (both in the foreground and background) is increasing, they can also reveal details about the expansion of the universe.

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